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Note 12 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

(dollars in thousands)		Quoted Prices (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total (Fair Value)
March 31, 2016
Assets:
Investment securities available for sale:
U. S. agency securities		$	-			$	55,622			$	-			$	55,622
Residential mortgage backed securities			-				306,812				-				306,812
Municipal bonds			-				109,909				-				109,909
Corporate bonds			-				14,938				-				14,938
Other equity investments			109				-				219				328
Loans held for sale			-				45,679				-				45,679
Mortgage banking derivatives			-				-				377				377
Interest rate swap derivatives			-				-				-				-
Total assets measured at fair value on a recurring basis as of March 31, 2016		$	109			$	532,960			$	596			$	533,665
Liabilities:
Mortgage banking derivatives		$	-			$	-			$	306			$	306
Interest rate swap derivatives			-				8,820				-				8,820
Total liabilities measured at fair value on a recurring basis as of March 31, 2016		$	-			$	8,820			$	306			$	9,126
December 31, 2015
Assets:
Investment securities available for sale:
U. S. agency securities		$	-			$	56,975			$	-			$	56,975
Residential mortgage backed securities			-				297,241				-				297,241
Municipal bonds			-				118,381				-				118,381
Corporate bonds			-				14,938				-				14,938
Other equity investments			115				-				219				334
Loans held for sale			-				47,492				-				47,492
Mortgage banking derivatives			-				-				24				24
Total assets measured at fair value on a recurring basis as of December 31, 2015		$	115			$	535,027			$	243			$	535,385
Liabilities:
Mortgage banking derivatives		$	-			$	-			$	30			$	30
Interest rate swap derivatives			-				1,417				-				1,417
Total liabilities measured at fair value on a recurring basis as of December 31, 2015		$	-			$	1,417			$	30			$	1,447

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(dollars in thousands)		Other Equity Investments				Mortgage Banking Derivatives				Total
Assets:
Beginning balance at January 1, 2016		$	219			$	24			$	243
Realized gain (loss) included in earnings - net mortgage banking derivatives			-				353				353
Principal redemption			-				-				-
Ending balance at March 31, 2016		$	219			$	377			$	596
Liabilities:
Beginning balance at January 1, 2016		$	-			$	30			$	30
Realized (gain) loss included in earnings - net mortgage banking derivatives			-				276				276
Principal redemption			-				-				-
Ending balance at March 31, 2016		$	-			$	306			$	306

(dollars in thousands)		Other Equity Investments				Mortgage Banking Derivatives				Total
Assets:
Beginning balance at January 1, 2015		$	219			$	146			$	365
Realized gain (loss) included in earnings - net mortgage banking derivatives			-				(122	)			(122	)
Principal redemption			-				-				-
Ending balance at December 31, 2015		$	219			$	24			$	243
Liabilities:
Beginning balance at January 1, 2015		$	-			$	250			$	250
Realized (gain) loss included in earnings - net mortgage banking derivatives			-				(220	)			(220	)
Principal redemption			-				-				-
Ending balance at December 31, 2015		$	-			$	30			$	30

Fair Value Measurements, Nonrecurring [Table Text Block]

(dollars in thousands)		Quoted Prices (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total (Fair Value)
March 31, 2016
Impaired loans:
Commercial		$	-			$	257			$	9,982			$	10,239
Income producing - commercial real estate			-				-				19,037				19,037
Owner occupied - commercial real estate			-				-				1,364				1,364
Real estate mortgage - residential			-				-				257				257
Construction - commercial and residential			-				-				5,112				5,112
Home equity			-				-				34				34
Other consumer			-				-				-				-
Other real estate owned			-				-				3,846				3,846
Total assets measured at fair value on a nonrecurring basis as of March 31, 2016		$	-			$	257			$	39,632			$	39,889

(dollars in thousands)		Quoted Prices (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total (Fair Value)
December 31, 2015
Impaired loans:
Commercial		$	-			$	271			$	8,930			$	9,201
Income producing - commercial real estate			-				-				5,085				5,085
Owner occupied - commercial real estate			-				282				1,071				1,353
Real estate mortgage - residential			-				-				329				329
Construction - commercial and residential			-				-				9,504				9,504
Home equity			-				-				123				123
Other consumer			-				-				19				19
Other real estate owned			-				5,394				458				5,852
Total assets measured at fair value on a nonrecurring basis as of December 31, 2015		$	-			$	5,947			$	25,519			$	31,466

Fair Value, by Balance Sheet Grouping [Table Text Block]

										Fair Value Measurements
										Quoted Prices in Active Markets for Identical Assets or Liabilities				Significant Other Observable Inputs				Significant Unobservable Inputs
(dollars in thousands)		Carrying Value				Fair Value				(Level 1)				(Level 2)				(Level 3)
March 31, 2016
Assets
Cash and due from banks		$	11,856			$	11,856			$	-			$	11,856			$	-
Federal funds sold			14,905				14,905				-				14,905				-
Interest bearing deposits with other banks			175,136				175,136				-				175,136				-
Investment securities			487,609				487,609				109				487,281				219
Federal Reserve and Federal Home Loan Bank stock			17,696				17,696				-				17,696				-
Loans held for sale			45,679				45,679				-				45,679				-
Loans			5,155,871				5,161,705				-				257				5,161,448
Bank owned life insurance			58,974				58,974				-				58,974				-
Annuity investment			12,007				12,007				-				12,007				-
Mortgage banking derivatives			377				377				-				-				377
Interst rate swap derivatives			-				-				-				-				-
Liabilities
Noninterest bearing deposits			1,474,102				1,474,102				-				1,474,102				-
Interest bearing deposits			2,923,895				2,923,895				-				2,923,895				-
Certificates of deposit			791,649				791,366				-				791,366				-
Customer repurchase agreements			66,963				66,963				-				66,963				-
Borrowings			68,958				68,960				-				68,960				-
Mortgage banking derivatives			306				306				-				-				306
Interst rate swap derivatives			8,820				8,820				-				8,820				-
December 31, 2015
Assets
Cash and due from banks		$	11,009			$	11,009			$	-			$	11,009			$	-
Federal funds sold			3,791				3,791				-				3,791				-
Interest bearing deposits with other banks			283,563				283,563				-				283,563				-
Investment securities			487,869				487,869				115				487,535				219
Federal Reserve and Federal Home Loan Bank stock			16,903				16,903				-				16,903				-
Loans held for sale			47,492				47,492				-				47,492				-
Loans			4,998,368				5,000,717				-				553				5,000,164
Bank owned life insurance			58,682				58,682				-				58,682				-
Annuity investment			12,136				12,136				-				12,136				-
Mortgage banking derivatives			24				24				-				-				24
Interest rate swap derivatives			-				-				-				-				-
Liabilities
Noninterest bearing deposits			1,405,067				1,405,067				-				1,405,067				-
Interest bearing deposits			3,014,122				3,014,122				-				3,014,122				-
Certificates of deposit			739,255				736,973				-				736,973				-
Customer repurchase agreements			72,356				72,356				-				72,356				-
Borrowings			70,000				69,992				-				69,992				-
Mortgage banking derivatives			30				30				-				-				30
Interest rate swap derivatives			1,417				1,417				-				1,417				-

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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